Coronation Fund Managers Ltd. Trims Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Coronation Fund Managers Ltd. trimmed its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,458 shares of the financial services provider’s stock after selling 16,693 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Apollo Global Management were worth $10,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Apollo Global Management by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after purchasing an additional 750,781 shares during the last quarter. Capital International Investors boosted its position in Apollo Global Management by 2.1% during the fourth quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock worth $1,004,161,000 after acquiring an additional 218,566 shares during the last quarter. Putnam Investments LLC grew its stake in Apollo Global Management by 2.8% during the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock valued at $553,476,000 after acquiring an additional 164,400 shares in the last quarter. Capital Research Global Investors grew its stake in Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after acquiring an additional 1,360,525 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Apollo Global Management by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock worth $517,527,000 after purchasing an additional 126,859 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Shares of APO stock opened at $131.98 on Wednesday. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $133.05. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The company has a market cap of $74.99 billion, a P/E ratio of 14.62, a PEG ratio of 1.30 and a beta of 1.61. The firm has a fifty day moving average price of $114.15 and a 200 day moving average price of $114.53.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same period last year, the company earned $1.54 earnings per share. Sell-side analysts predict that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays dropped their target price on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Redburn Partners assumed coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. Finally, Redburn Atlantic initiated coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.65.

Insider Activity at Apollo Global Management

In other news, Director Pauline Richards bought 2,351 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the transaction, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.